The Securities and Exchange Commission (SEC) has reaffirmed its commitment to safeguarding investors’ funds, especially within the growing fintech ecosystem. Speaking at a capacity-building workshop for financial journalists in Abuja, SEC Director General Dr. Emomotimi Agama emphasized the importance of enforcing regulations to curb fund mismanagement and ensure fintech operators comply with capital market rules. He stressed the need for a conducive regulatory environment to encourage technological innovation and enhance Nigeria’s financial transformation.
Highlighting the regulatory challenges emerging financial trends, SEC Director Hasfat Rufai noted the Commission’s efforts to adapt and ensure investors’ safety amidst disruptions such as cryptocurrencies and digital trading platforms. She underscored the role of technology in reshaping the investment landscape, urging investors to embrace innovation responsibly. Rufai projected a future driven by young investors, evolving financial products, and technological advancements.
In a related presentation, Abdulraham Abubakar discussed the impact of fintech on Nigeria’s commodities market. He explained how fintech has improved standardization by electronically linking storage facilities and exchanges. The SEC’s collaboration with the Toronto Center to enhance its Risk-Based Supervision regime reflects its commitment to refining oversight of market operators and infrastructure, ensuring dynamic and effective regulation in the rapidly evolving financial sector.
